NVCA is frequently asked by policymakers, economic development agencies and others interested in growing their entrepreneurial ecosystem what the key elements are for a region to emerge as an innovation hub. There is, unfortunately, no secret sauce. However, regions with strong research institutions, a well educated workforce, a developed transportation infrastructure (particularly airports with plentiful flight options to other entrepreneurial hubs) and a service industry that can support venture creation are at an advantage.

The good news is that in recent years we have seen several regions throughout the U.S. gain traction in terms of their start-up communities.  New York City is one region where there has been considerable excitement with many new start-ups and the active involvement from investors within the region and beyond.  New York encompasses all the key elements needed for an entrepreneurial hub but also is the base for several industries that are ripe for transformation by technology.

The past few weeks have been a real test for the nascent New York innovation ecosystem due to the impact of Hurricane Sandy. Many of New York’s startups were located in the neighborhoods hardest hit by the storm.  It has been heartening to hear of the stories of start-ups with heat and power offering space to those without and entrepreneurial teams carrying on despite challenges.

NVCA wants to do its part to help the New York entrepreneurial community recover. That is why the Association today announced that it will sponsor 40 tickets for New York’s Mobile Madness Event.  These tickets will be awarded to New York Startups that are less than 3 years old and will be awarded first to those impacted by Hurricane Sandy. We hope it helps a few start-ups make some connections that they may have not otherwise.